Irans Rouhani: Oil Price Drop Is Unnatural

The video discusses the recent decline in oil prices, with Brent falling below $65 and West Texas crude below $62 for the first time since 2009. This drop is attributed to OPEC's projection of the weakest demand for its crude oil in 12 years. Despite steady supply, increased oil production from non-OPEC countries like the US, Canada, and Brazil is affecting the market. Iran warns of further price drops if OPEC doesn't unite. Analysts predict a slight recovery in oil prices by mid-2015, while the US Energy Information Administration suggests a wide range of possible future prices. Overall, the market is expected to rebalance over time, but a return to over $100 oil is unlikely.

What is the significance of OPEC's projection for crude oil demand in 2015?

How has the increase in oil production from non-OPEC countries affected the market?

What warning did Iran issue regarding OPEC's unity and oil prices?

What factors are contributing to the current drop in oil prices according to the text?

What are analysts predicting for the price of oil in mid-2015?